Work to begin on Phases 3 and 4 of Azizi’s $3.3bn Dubai project
Azizi Developments expects Phases 3 and 4 of its Azizi Riviera project to be completed in Q3 2019
UAE-based developer, Azizi Developments, will commence construction of the third and fourth phases of its Azizi Riviera project next month.
The real estate investment arm of Azizi Group, Azizi Developments revealed that with construction work scheduled to begin this February, it is expecting Phases 3 and 4 to be completed in Q3 2019.
Meanwhile, Phases 1 and 2 of the $3.3bn (AED12bn) project are expected to be completed in Q1 2019.
According to the company, the project will boast a total of 16,000 apartments once all four phases are completed.
Farhad Azizi, chief executive officer of Azizi Developments, commented: “The consistency in Azizi Riviera's construction progress makes the start of 2018 a very exciting time for all of us.
“This destination project will enhance Dubai's community lifestyle options through the introduction of mixed-use assets, such as hotel, residential, and retail developments.”
He added: “2017 was extremely positive for us with a steady pace of project construction and handovers, allowing us to further enhance our credibility in the market. 2018 is poised to be an even better year because of our continued growth and expansion, as well as the new projects we will [be introducing] to the market.”
Located in Meydan One, Azizi Riviera consists of 69 mid-rise residential buildings comprising studio, one-bedroom, and two-bedroom apartments, in addition to a four- and a five-star hotel.
The development, which draws inspiration from the French Riviera, also features an integrated retail district.